Latest articles from Simon Turmaine

Newsletter February 2011: Wide interpretation of ‘Volcker Rule’ urged

WASHINGTON – If regulators interpret the proposed ‘Volcker Rule’ in a way that is too restrictive they risk damaging the liquidity of US capital markets, increasing financial instability and reducing capital formation and economic growth, according to a new study. The Volcker Rule, which will ban banks from undertaking proprietary trading, is a key element of the Dodd-Frank Wall Street Reform Act that became law last July.

Newsletter February 2011: No easy remedy for commodity hikes

REGINA, Saskatchewan - Policymakers keen to take corrective action on commodity prices should proceed with caution – the evidence suggests most of the major price movements, as well as a large proportion of short-run volatility, can be explained by supply-and-demand fundamentals, a top central banker said in February.

Newsletter February 2011: IMF chief warns on next crisis

WASHINGTON – Lack of action to reform the international monetary system could sow the seeds of the next financial crisis, according to International Monetary Fund (IMF) chief Dominique Strauss-Kahn. He called for renewed international cooperation for a better and stronger global recovery.

Newsletter February 2011: ‘Offsetting’ plan sparks another row with industry

Financial industry upset as America backs international approach on derivatives offsetting. US banks likely to be hit

Newsletter February 2011: US and EU insurers lash out at regulations

America’s insurers want to delay tighter regulation while their European counterparts fret about Solvency II test

Email News Service January 2011: Accounting convergence steps welcomed; Bankers adopt softer tone on regulation; Basel III is for all banks everywhere

LONDON, January 31 (Global Risk Regulator) – Accounting experts welcomed moves by the two leading accounting standard-setters today that should bring the convergence of global accounting rules a significant step closer.

Email News Service January 2011: US rating ban seen as serious obstacle to Basel III

PARIS & WASHINGTON, January 24 (Global Risk Regulator) – The bar on the use of credit ratings in America’s financial reform legislation is a “serious obstacle” to the full and consistent application of the Basel III bank rules in the US, a top banking industry representative said today.

Newsletter January 2011: Solvency II is too onerous, the industry claims

Feedback from the QIS5 exercise confirms the worst fears of the pessimists; less complexity is urged

Newsletter January 2011: ‘Big four’ win approval as stability tops competition

Supervisors standing firmly by Australia’s ‘big-four’ banking oligopoly. It's even getting special treatment under Basel III By David Keefe

Newsletter January 2011: Adapting Basel rules to a less conventional model

Islamic finance is still a niche market, but its regulation is vitally important for the safety of the global financial system